LPL Financial Broker Bruce Amman Cited for Transacting $3.5 Million Private Placement Without LPL Approval

Attorney Advising Disclaimer

FINRA fined and suspended former LPL Financial (Golden, Colorado) broker Bruce Cameron Amman for participating in a $3.5 million private placement transaction away from the firm and without written notice to LPL. LPL Financial terminated Amman's registration in 2020 for improper use of short-term mutual fund product switches.

According to AWC #2020067292901, Bruce Amman (CRD #2130243) introduced a customer seeking a tax-advantaged investment to a third party, facilitating a wire transfer out of the customer's LPL account without providing LPL with prior written notice as required by industry rules.

FINRA's investigation stemmed from LPL filing an Employment Separation After Allegations disclosure, noting that Amman had been discharged for policy failures related to short-term mutual fund product switches in brokerage accounts.

If you invested with Bruce Amman or with any broker or financial adviser who recommended, sold, or facilitated a private securities transaction away from their associated brokerage firm, without providing adequate notice or disclosure regarding this transaction, and you have experienced losses or other financial damages as a result of the illicit conduct, please call an experienced FINRA arbitration attorney at The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

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